Trade deal touts financial sector wins; China to scrap securities business cap faster
Share:
WASHINGTON/HONG KONG (Reuters) - The long-awaited U.S.-China trade deal touted wins for U.S. companies looking to access China's $40 trillion (£30.6 trillion) financial sector, but many of the changes were already in the works, with Beijing having stepped up the pace of liberalisation last year.Under the deal, China has agreed to move forward by nine months a December 2020 deadline for removing foreign ownership caps on securities firms, which includes investment banking, underwriting and..